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European equities mixed after ECB signals no change

London - Stock markets in Europe were mixed on Thursday after the European Central Bank signalled no changes to its bond-buying stimulus programme set to expire in just over five months.

The ECB stimulus scheme, known as quantitative easing (QE), involves the purchase of public and private bonds at the rate of €80bn per month, and is currently set to end in March 2017.

Investors were watching to see if ECB chief Mario Draghi would hint at an extension of the programme, or its winding down.

Draghi told a press conference in Frankfurt that the governing council "didn't discuss tapering" the programme, following a recent Bloomberg report that the bank was considering gradually easing its bond purchases which had rattled investors.

The bank also kept it benchmark "refi" refinancing rate unchanged at an all-time low of zero percent where it has been since March.

In the eurozone's main markets, Frankfurt and Paris initially slipped as Draghi spoke but then rose slightly 0.12% and 0.28% respectively in late afternoon trading. London meanwhile was down 0.23%.

"We may have seen plenty of (market) volatility throughout the ECB press conference today but in reality, all Mario Draghi and the ECB actually did was confirm what most people already assumed," said Craig Erlam, senior market analyst at OANDA.

He added that investors would now be eyeing December which "offers the luxury of the latest economic projections that will assist in deciding just how far to extend the QE programme and whether any additional, or less, stimulus is needed."

Many analysts think more stimulus is needed as growth and inflation remain lacklustre in the 19-nation eurozone.

Stocks on Wall Street were also mixed in early trading. The Dow Jones Industrial Average rose a slight 0.04% while the broad-based S&P 500 slid 0.27% while the tech-rich Nasdaq slipped 0.11%.

Reaction to US presidential debate

Earlier on Thursday markets had won some support from the previous day's jump in world oil prices, while investors judged Hillary Clinton to have won the final presidential debate with Donald Trump.

Crude futures rallied Wednesday on news of a heavy decline for commercial US oil inventories, fanning hopes about demand in the world's top consumer, but the rally lost steam.

The oil market has risen sharply since OPEC last month agreed to cut output in a bid to address a global glut.

"The third and last US presidential debate overnight also looked to give stock market favourite Hilary Clinton a clear path to the White House next month." said Lee Wild, head of equity strategy at stockbroker Interactive Investor.

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